MNP Debt Blog

The origins of the fear factor

If you are having difficulty paying your debt in Ontario and are concerned that creditors may be able to seize your retirement fund or if you are considering withdrawing the fund to pay your debt, it is important to know what creditors can and cannot...

Canadian consumer debt is at an all time high, with more than half of our assets' tied up in real estate.

An informal debt settlement of debts is essentially a voluntary proposal between you and your creditors without judicial surety or the step by step support that comes from working with a licensed trustee.

Financial distress due to unmanageable debt can sneak up on you. When your debt starts to add up and payments begin to fall behind, this is the absolute best time to take a look at your budget and to look at your options.

Statistics Canada recently released a report stating that Canadians are holding a record level of household debt with the average Canadian household owing 164.6% of its annual income.

MNP recently moved to a new location at Gullivers Square, which is directly across from the Eastgate Square Mall.

Often, when people think of insolvency, they relate it directly to bankruptcy. This can be very deflating to those who find themselves struggling with debt, but want to avoid having to file for bankruptcy.

There’s no denying it, many Canadians are currently experiencing financial distress. According to Statistics Canada, the household debt in Canada is at the highest level even when measured as a portion of disposable income in 2015’s second quarter.

According to Statistics Canada, households in Canada had the highest debt level ever when measured as a portion of disposable income in 2015’s second quarter.